Small business owners depend on marketing strategies to promote their products and services among their target audience. With an improved online presence, companies gain numerous benefits across multiple channels. However, due to lack of resources, MSMEs can face many challenges in capturing customers’ attention online. Today, we will discuss the various ways MSMEs can keep up with the era of digital sales and follow an effective marketing strategy.
Let us first understand why digital marketing is important for Micro, Small & Medium Enterprises.
Advantages of Digital Marketing Over Traditional Marketing
The post COVID-19 era has brought a significant change to the world of marketing. With real-time monitoring and other high-level elements, a small business owner can reach prospective customers. Below are the major differences between traditional and digital marketing strategies.
TV, radio, print, billboards, direct mail
Social media, email, search engines, websites, blogs
Reach and Targeting
Broader reach with less specific targeting
Highly targeted audience segmentation and personalization
Often more expensive, especially for TV and radio
Generally more cost-effective, scalable with options
Difficult to measure immediate impact
Real-time analytics, trackable metrics, precise insights
Limited interaction with the audience
High interactivity, two-way communication
Less flexible, longer production timelines
Quick adaptation, real-time adjustments to campaigns
Feedback and Engagement
Slower feedback loop, limited engagement
Immediate feedback, direct customer engagement
Global vs. Local Reach
Suitable for both local and global audiences
Can be tailored for local or global markets
Longevity of Message
Longer-lasting impact, but less dynamic
Messages can be updated and modified easily
Strong for building brand awareness and trust
Effective for brand building, engagement, and loyalty
With the above-mentioned differences, an entrepreneur can understand how digital marketing is different from traditional marketing. Moreover, why is it important for businesses of all sizes? Now, let us look at some of the top digital marketing strategies for MSMEs.
Top Digital Marketing Strategies for MSMEs
The first and foremost step to creating a marketing strategy for a small business owner is to create a strong marketing plan. An effective marketing strategy for small businesses has a lot to do with sales and branding goals. With tried-and-tested tactics, marketers can attract the right customers and maximize their growth and sales. Let’s explore the top digital marketing tactics for MSMEs.
1. Build a responsive website
It is important to ensure that your website is user-friendly, mobile-responsive and optimized for search engines. A professional website is the greatest asset in the digital age. It is the storefront for new-age businesses and the initial point of contact for potential customers. Your website also serves as a tool to analyze and monitor the results of your marketing efforts.
2. Get Listed on Google
Google My Business is considered one of the best tools for local businesses to attract local customers. As per recent survey, Google controls 92% of the search engine market share worldwide. This includes 72% of the desktop market and 92% of the mobile search engine market. Your company appearing in the top searches will prove to be very beneficial to gaining credibility and trust among the customers.
3. Research Your Competitors
Competitive research is a marketing technique that identifies competitors and analyzes their strengths and weaknesses. In this fast-paced marketing world, it is necessary to keep up with industry trends. The in-depth research also helps identify opportunities and threats to tackle the elements of the exterior world.
The above-mentioned techniques are among the top digital marketing techniques for MSMEs. However, there are a few marketing tactics for startups that are budget-friendly and cost-effective.
Low-Cost Marketing Tactics For Startups
Today, we will burst the myth that says, “Marketing is expensive.” We will share a few insightful ways to market your products and services as a small or medium-sized business (without spending a bomb).
1. Social Media Marketing
Creating an account on Facebook, Twitter, and Instagram is free of cost and an effective way to market your products and services. With the help of an effective content marketing strategy, small business owners can cater to different sections of their target audience using storytelling techniques and interesting visuals.
2. Email Newsletters
Email newsletters are an effective medium to reach out to your target audience. An organically curated email list leads to successful email marketing campaigns. This medium of direct marketing is the quickest and most effective approach to sharing your newest specials.
3. Google Ads
Business owners can leverage the SEO-centric opportunity offered by Google. If you want to market your products or services online, you can add them to your search list by making a bid to grab the top spot. To get started with Google Ads, you only need to add your business information, select your campaign goals and budget, and enter your payment mode.
4. LinkedIn Marketing
Personal branding through LinkedIn is the latest tactic utilized by entrepreneurs. Startup owners can follow the best practices to improve their reach on LinkedIn in 2023. You can target new audiences and build a strong ecosystem for your brand by amplifying your best content.
5. Implement Referral Programs
By integrating referral programs into their strategy, businesses can harness the power of word-of-mouth marketing. In this approach, satisfied customers are motivated to recommend the business to their networks in exchange for exciting incentives and rewards.
Listen to: Marketing Made Easy: A Guide for MSME
With the help of the above-mentioned ways, MSMEs can harness the power of marketing and build a strong rapport for themselves. These strategies empower small and medium enterprises to not only reach their target audience efficiently but also to create a distinctive identity in the digital landscape.
To navigate with specialized assistance, entrepreneurs can get in touch with 26Tech for the best MSME digital marketing services. Optimize your marketing efforts with their extensive knowledge and experience in the world of digital marketing.